Pumps that are used in hydraulic fracturing or ‘fracking’ operations are configured to pressurize and transfer a fracturing fluid into a downhole wellbore for creating cracks in deep-rock formations located under the earth's surface. Typically, a pump includes several components that may be subject to high working pressures. Such components may be at a risk of failure and cause a leakage in the pump. An overall performance of the pump may depend on the health of such components. A smooth working of the pump may be maintained by monitoring a health and performance of the components present in the pump. For reference, U.S. Pat. No. 7,689,368 discloses a system for early detection of component failure in a hydraulic system.